Motorola Inc. (MOT) faces a purported class action lawsuit alleging it made material misrepresentations to the market, artificially inflating its stock price, attorneys from Brodsky & Smith LLC of Bala Cynwyd, Pa., said Tuesday.
The suit was filed in U.S. District Court for the Northern District of Illinois on behalf of shareholders who purchased shares of Motorola, a Schaumburg, Ill., telecommunications company, between July 19, 2006, and Jan. 4.
A spokeswoman for Motorola said the company is reviewing the complaint and will respond at the appropriate time. She also said Motorola plans to vigorously defend itself against the allegations.
